There will never be a better or more prudent time to arrange a ‘speed date’ with your finance broker. Or the ‘better looking’ bank sitting across the road. In fact, your financial speed dates should be arranged at least once every 2-3 years.
A lot is changing in the banking world, especially if you have a mortgage or are looking to enter the market. Recently there has been a regulatory crackdown by Australian Prudential Regulation Authority in an attempt to slow down investment lending, prevent a housing bubble and ultimately protect the financial well-being of Australians and the Australian banks. This has resulted in changes to interest-only lending and more responsible lending practices being enforced on the banks.
With all these changes, borrowers may notice their existing lending arrangements have been altered or that they are no longer able to access what they were previously offered by lenders. A review of your arrangements may reveal a more appropriate structure for your loans that could improve your overall financial position.
DPM can help you through the speed dating process with a 10-minute phone consultation or a personal appointment with one of our experienced Finance Consultants.
So what are you waiting for? It’s time to check out your options.
* The information contained in this site is general and is not intended to serve as advice. DPM Financial Services Group recommends you obtain advice concerning specific matters before making a decision.